TORONTO STOCK EXCHANGE -November 1-5

The TSX composite index responded well to quantitative easing south of the border. The index was up 219 points for the Nov. 1-5 period, finishing at 12,944.92.

But while the second round of quantitative easing improved market sentiment, without U.S. demand picking up, pundits fear that economic growth in Canada will be difficult.

More American dollars in the system made for a stronger Canadian dollar, which hurt Canadian exporters.

Quantitative easing also had the expected effect on gold price as it climbed US$34 to US$1,395.50 per oz. That move carried the Global Gold index up 11 points to 415.96.

But investors didn’t only have gold on their minds. The base metal complex also continued its strong run with higher prices for copper, aluminum, nickel, tin, lead and zinc, and the Capped Metals & Mining index gained 80 points to finish at 1,327.40.

The big news of the period was the federal government blocking BHP Billiton’s attempted takeover of Potash Corp. of Saskatchewan. The government effectively deemed potash a strategic asset, and as such sided with the Saskatchewan government, which opposed the bid.

Taseko Mines’ share price was hit hard when the federal government said no to an open-pit mine at its Prosperity copper-gold project in central British Columbia. The government said a mine could jeopardize a nearby lake. The move overruled the provincial government’s support for the $815-million project. Local native groups have been strongly lined up against the mine. Taseko’s shares fell 28% to $4.65.

When the market is hot, as it is now for rare earth metals, sometimes all a company has to do is announce a drill program to get a lift. That was the case for Nuinsco Resources which climbed 31% to finish at 17¢. The company announced it had begun a drill program at its Prairie Lake rare earths project near Marathon, Ont., to increase the known tonnage and better understand the project’s mineralization.

Staying with hot commodities, word that Great Panther Silver had expanded high grade silver-gold-lead-zinc mineralization at its Topia mine in Mexico, had the company’s shares up 28% to $1.55. The results came from 9,000 metres of surface drilling and underground development. The company believes the drilling will add to its reserves and thus help it increase production by 20% per year by 2012.

The drill also helped the share prices of Goldstone Resources and Premier Gold Mines at their Hardrock gold project in northwestern Ontario. Goldstone holds a 30% carried interest in the project and saw its share price rise 30% to $1.01 on the back of highlight intercepts of 7.92 grams gold per tonne over 114.5 metres and 18.49 grams gold over 20.5 metres. As for Premier, its shares rose by 19% to $6.69.

TSX most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Eastern Platin ELR 45877 1.93 1.70 1.85 -0.01
Uranium One UUU 37062 5.14 4.19 5.00 + 0.83
Denison Mines DML 28288 2.84 2.16 2.49 + 0.35
Farallon Res FAN 26583 0.68 0.56 0.68 + 0.11
Yamana Gold YRI 24207 11.84 10.76 11.69 + 0.47
Eldorado Gold ELD 22308 19.41 17.30 18.86 + 1.59
Andean Res AND 21523 6.58 6.23 6.50 + 0.19
KinrossGold K 19537 19.20 17.64 18.82 +0.47
Lundin Mng LUN 18672 6.92 6.17 6.75 + 0.29
Taseko Mines TKO 18112 6.72 4.36 4.65 -1.80
TSX greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Canarc Res CCM 2289 0.19 0.15 0.19 + 46.1
Candente Coppr DNT 7068 1.03 0.67 0.89 + 43.5
Uranerz Energy URZ 974 3.36 2.26 3.20 + 43.5
Timminco TIM 5536 0.40 0.28 0.40 + 37.9
Nuinsco Res NWI 3248 0.17 0.13 0.17 + 30.7
Rio Novo Gold RN 8112 2.65 2.00 2.60 + 30.6
Goldstone Res GRC 6496 1.01 0.69 1.01 + 29.4
Great Panther GPR 6201 1.58 1.21 1.55 + 28.1
Forsys Metals FSY 2424 2.54 1.86 2.54 + 27.6
First Majestic FR 5845 10.47 7.38 9.96 + 27.3
Taseko Mines TKO 18112 6.72 4.36 4.65 -27.9
Diamond Fields DFI 450 0.29 0.20 0.22 -18.5
Auryx Gold AYX 4014 1.30 1.01 1.03 -18.2
TriAusMin TOR 397 0.11 0.08 0.09 -18.1
EMC Metals EMC 1245 0.11 0.09 0.10 -16.6
AvalonRareMt AVL 5538 4.64 3.78 3.92 -13.8
Crescent Gold CRA 33 0.16 0.14 0.14 -12.5
Malaga MLG 4761 0.40 0.24 0.25 -10.7
Gryphon Gold GGN 1072 0.28 0.22 0.25 -10.7
NGEx Res NGQ 195 0.95 0.86 0.87 -10.3
TSX greatest value change
WEEK
VOLUME CLOSE CHANGE
First Quantum FM 2989505 95.36 + 6.05
Teck B TCKB 12218489 49.71 + 4.11
Teck A TCKA 16005 49.80 + 4.10
Inmet Mining IMN 1449198 64.87 + 3.89
Silver Wheaton SLW 7994409 32.97 + 3.65
Alamos Gold AGI 3791300 18.99 + 3.20
Labdr I-Ore Ro LIF_U 415722 64.10 + 2.90
Coeur d Alene CDM 130237 23.50 + 2.45
Seabridge Gold SEA 171415 30.10 + 2.39
Silvercorp Mtl SVM 6249363 11.90 + 2.36
PotashCpSask POT 9678973 141.32 -6.18
Agrium AGU 5965565 85.21 -5.01
Franco-Nevada FNV 2327392 33.19 -1.99
Taseko Mines TKO 18112193 4.65 -1.80
Centerra Gold CG 7349003 18.87 -1.48
Newmont Mng NMC 58409 61.54 -0.71
AvalonRareMt AVL 5537952 3.92 -0.63
HoriznsGBear HGD 6305218 9.60 -0.53
Auryx Gold AYX 4013910 1.03 -0.23
Faircourt Gold FGX 163082 10.28 -0.15
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